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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Taxes [Abstract]

Income tax reconciliation

The provision for income taxes differs from the amount computed by applying the statutory rate as follows: 

		Year Ended December 31,
(in thousands)		2013				2012				2011
Income taxes using U.S. federal statutory rate		$	(10,309	)		$	(17,621	)		$	(10,501	)
Amortization of gain on IP migration			781				754				–
State income taxes, net of federal benefit			(1,390	)			(4,299	)			(3,418	)
Foreign rate differential			2,761				3,716				52
Valuation allowance			7,683				17,561				20,563
Derivative charge			(937	)			(734	)			(5,292	)
Stock option exercises and cancellations			1,589				310				102
Research and development credits			(1,090	)			326				(1,633	)
Other			912				(13	)			127
Total		$	–			$	–			$	–

Significant components of deferred tax assets

Significant components of the Company’s deferred tax assets are as follows: 

(in thousands)		2013				2012
Deferred tax assets:
Employee compensation accruals		$	4,077			$	6,176
Accrued liabilities			870				299
Research tax credits			3,472				2,382
Other			79				31
Net operating losses			71,874				63,765
Total deferred tax assets			80,372				72,653
Deferred tax liability:
Total deferred tax liabilities			–				–
Valuation allowance			80,372				72,653
Net deferred tax assets		$	–			$	–

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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